1. The current market price of steel
On June 22, the domestic steel market fell, and the ex-factory price of billets fell by 20 to 3,890 yuan/ton. In the morning, the transaction is average, and the terminal purchases on demand.
2. Market prices of four major varieties of steel
Construction steel: On June 22, the average price of 20mm rebar in 31 major cities in China was 4,303 yuan/ton, down 31 yuan/ton from the previous trading day. In the short term, social inventory remains high, and the contradiction between high supply and low demand in the superimposed market is difficult to alleviate. It is still difficult for market prices to stop falling in the short term. It is expected that domestic construction steel prices may continue to decline weakly on the 23rd.
Hot-rolled coil: On June 22, the average price of 4.75mm hot-rolled coil in 24 major cities in China was 4,391 yuan/ton, down 30 yuan/ton from the previous trading day. In the spot market, the quotations fell slightly in the morning, and the market continued to decline in the afternoon. The market mentality continued to be sluggish, the spot trading atmosphere was poor, and the overall transaction was poor. However, at the same time, the cost of steel mills was mostly maintained at a high level due to the impact of high-priced raw materials in the early stage, and some steel mills have already expected maintenance. On the whole, the emotional side caused by the sharp market downturn in the previous period has begun to reverse. The overall transaction situation in the market has improved compared with last week, and some terminals have begun to replenish inventory. At the current national policy stimulus and some steel mills are expected to overhaul Under the circumstance, most of the merchants hold the view of market reversal, but it is necessary to monitor whether the market demand is really picking up.
Cold-rolled coil: On June 22, the average price of 1.0mm cold coil in 24 major cities across the country was 4,997 yuan/ton, down 38 yuan/ton from the previous trading day.
3. Market prices of raw materials and fuels
Imported ore: On June 22, the spot market price of imported iron ore was weak, and the market sentiment was deserted.
Coke: On June 22, the coke market was weak.
Scrap: On June 22, the average price of scrap in China's 45 major markets was 2,752 yuan/ton, down 17 yuan/ton from the previous day's price.
4. Steel market price forecast
The current steel market is intertwined with long and short positions, and quotations are chaotic. On the one hand, although steel futures rebounded from an oversold price on Tuesday, stimulating a short-term recovery in demand, under the seasonal off-season plus normalized epidemic prevention and control, the overall demand is still weak, especially the lack of market confidence, which requires greater macro policy support. On the other hand, as the loss-making area of steel mills and coke enterprises expands, more and more enterprises plan to limit production. The current supply and demand is in the process of rebalancing, the market diverges greatly, and short-term steel price fluctuations may be more frequent.
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Post time: Jun-23-2022